$20 for every $1,000: That’s a good rule of thumb for estimating monthly payments when shopping for a new car or truck.
At today’s interest rates figure you’ll pay $20 a month for every $1,000 you borrow with a five-year (60-month) loan.
If you’re considering a $10,000 loan, for example, expect your monthly payments to be about $200 a month. (At 8% the exact payment would be $203.)
Our auto loan calculator is the easiest way to figure out exactly how much you’ll pay.